$6bn merger between W.P. Carey, a New York-based real estate investment trust, and Corporate Property Associates 17, a publicly owned REIT that invested primarily in commercial real estate properties leased to companies both domestically and internationally. Subject to the terms and conditions of the merger agreement, CPA17 – Global stockholders will receive a fixed exchange ratio of 0.160 shares of W. P. Carey common stock for each share of CPA17 – Global common stock, equivalent to $10.72 per share based on W. P. Carey's closing share price of $67.03 as of June 15, 2018. The W. P. Carey shares issued in the merger will be listed on the New York Stock Exchange at the time of issuance. W.P. Carey anticipates benefits such as further simplifying W. P. Carey's business and accelerating its strategy to focus exclusively on net lease investing for its balance sheet, positioning the company for future growth opportunities.